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Adyen how now asked for a bank statement
 

A lot of people have asked if the business account will be necessary and to be honest I didn't know. This verification does not seem to involve anything from eBay or Ayden. According to the rep its a federally mandated kind of thing they are having to do now once you hit a certain threshold so if you're going to be keeping the account under 20k this may never be an issue for you. This particular account will be well over that. I got details for what they are looking for and this would honestly be easier for people to provide if they just open up an LLC and get a business account.

On the statement, they want to see
The Bank name
The Bank Logo
4 digits of the account number
The business name on the account

An address was not mentioned, but changing an address on an account is not an issue. You just walk into the bank and ask them to change it if you can't get a statement without an address.

Re: Adyen how now asked for a bank statement
 

Bank statements are no big deal at all.

The address is easiest, you can do it right from your phone.... Just dont do it with credit cards. That can mess up your credit report.

Re: Adyen how now asked for a bank statement
 

they could also ask for retail license.
having company name on your check may not be a problem,as the print shop will print whatever you give them.

Re: Adyen how now asked for a bank statement
 

Retail licenses aren't required in my state unless I have a physical location in a commercial area. Arkansas is pretty flexible about what they refer to as noninvasive businesses. never thought of using a print shop for that.

Re: Adyen how now asked for a bank statement
 

when you order checks,they let you decide what to print on the check?

Re: Adyen how now asked for a bank statement
 

I haven't used paper checks in years. I went down to the bank, told the teller what I needed and she printed out a letter on bank letterhead and she signed it. It could be easily ⊗⊗⊗⊗d even though it's actually legit but its got everything they asked for on it so hopefully, they will accept it. They also said they would have accepted a canceled check on the account too. Something to keep in mind I guess.

Re: Adyen how now asked for a bank statement
 

I'm curious why you went that route instead of sending an actual account statement?

That wouldn't have been a problem since you have your transfers going to a business checking account matching your eBay LLC name, right?

Re: Adyen how now asked for a bank statement
 

actual statement would have her real name and address

Re: Adyen how now asked for a bank statement
 

I just told the teller what I needed and that was what she gave me. It has everything on it they requested.

Re: Adyen how now asked for a bank statement
 

So they just asked for this info out of nowhere? WTF is the point if they already verified the account?

Re: Adyen how now asked for a bank statement
 

I know, it's ridiculous. yeah, they just asked out of nowhere after depositing money into it for a couple of weeks now. But not as ridiculous as PayPal has gotten.

They did not accept the printed letter from the teller though and are asking me for more information. I guess i will be going back to the bank tomorrow.

Re: Adyen how now asked for a bank statement
 

Has it been a great deal of money, or are you still taking it slow?

Re: Adyen how now asked for a bank statement
 

This is an existing account. Its 2 years old. They invited me to join and after the paypal was restricted for reasons that were never stated I decided to give it a shot. The letter the bank teller gave me could have been easily ⊗⊗⊗⊗d so i think that might be the issue.

Re: Adyen how now asked for a bank statement
 

On another note, we now know they aren't trying to verify anything with an actual bank because if they had they would have seen that the information was legit.

Re: Adyen how now asked for a bank statement
 

No they wouldn't.

Re: Adyen how now asked for a bank statement
 

I just double checked. Business checking account statement only has the LLC name it was created with.

If I were you I'd go into online banking, screenshot a recent statement, and submit it.

https://i.postimg.cc/bN4vsBp1/Untitled.png

Re: Adyen how now asked for a bank statement
 

7I think it has my address, but will have my business name on it. I will have the address changed before I have them print it out though. I have online banking on my phone but it doesn't let me screenshot it. Getting it on my computer it a pain in the butt. Ironic that's its easier to set it up on a device that could be easily lost or stolen. I appreciate the offer though.

Re: Adyen how now asked for a bank statement
 

Banks can be iffy about changing the address on your account. The last time I changed my address at WF they sent a test letter to the new address to make sure I really lived there before they made the change official on my account.

If things don't work out in your favor at the bank you could go through the hassle of opening online banking on a computer, then edit the part of the e-statement with Foxit PDF editor or a HTML editor (depending on what format your e-statement is) that has the wrong address. Just throwing that out there. Good luck! :thumb:

Re: Adyen how now asked for a bank statement
 

Case in point:

https://i.postimg.cc/hPKDBvQH/Untitled-1.jpg

I just made myself Aspkin's holding corp in Beverly Hills in 2 minutes.

Re: Adyen how now asked for a bank statement
 

Why did they not accept the bank info you got from the teller? This Adyen is starting to sound like a nightmare.

Re: Adyen how now asked for a bank statement
 

They specifically asked for a bank statement and Lucynda provided something different that would have been harder to get. I wouldn't have accepted it either.

Re: Adyen how now asked for a bank statement
 

The computer asked for a bank statement. The rep I spoke to told me I could send them something with the bank logo on it providing the info I wanted. Clearly, the rep was misinformed.

Re: Adyen how now asked for a bank statement
 

Not as bad as eBay. I tried to upgrade to a business account on a new stealth PayPal and I have to send them a paycheck stub and my LLC paperwork (which I don't have yet). This may be the way of the future for us though now that they are putting all of the extra measures in to try and prevent money laundering (which won't work because people breaking the law will just continue to steal identities to do it.)

Re: Adyen how now asked for a bank statement
 

When I went to the bank I was told to get a statement with the new address on it I would have to wait for a whole cycle. I'm not willing to wait that long. I would like to send in a real document for this since it is a real account (even if there isn't a risk) and frankly I need a few days to catch things up around the house so I just ordered some checks and will wait the 4 or 5 days it takes to get them and then send them a canceled check.

Re: Adyen how now asked for a bank statement
 

There are some folks who dont have bank account,these days they ask you to keep a minimum balance else there is a monthlly fee,you are limited to x number of free withdrawals per month,NSF is stiff.
they just cash their paycheck and use cash to pay bills,buy grocery

Re: Adyen how now asked for a bank statement
 

About 13 milion ppl don't have a bank account in the U.S.

Re: Adyen how now asked for a bank statement
 

These new requirements are nuts. What are they exactly trying to prevent? Hold the money for 30 days or whatever if you think people are scamming. I don't want them to have a 10-page file on my identity.

Re: Adyen how now asked for a bank statement
 

These new measures are supposed to help prevent money laundering, but it's not going to prevent anything.

Re: Adyen how now asked for a bank statement
 

Are you past them now or no?

Re: Adyen how now asked for a bank statement
 

Those aren't the type of people applying for eBay Managed Payments, and eBay knows it. :thumb:

Re: Adyen how now asked for a bank statement
 

They're just trying to
a) stay legal/compliant
b) compete by moving to managed payments
c) be more profitable

Gotta roll with the punches I guess.

Re: Adyen how now asked for a bank statement
 

Glad I didn't quit my day job. I will sell as long as I can.

Re: Adyen how now asked for a bank statement
 

You see my post the other day where they expect to profit TWO BILLION more per year by switching to Adyen? lol

Re: Adyen how now asked for a bank statement
 

I've been reading various posts on the topic of setting up setting up Adyen's Managed Payments. The OP of this thread, Lucynda has already gone through the process.

So far I haven't seen anything other than a request for a bank statement or maybe ID. It's still too early to see how they will handle accounts with higher volume, high risk sales, or disputes/cases/chargebacks.

There are some traditional merchant processors out there (such as Stripe) or a real credit card processor (merchant bank) that will terminate the account with even one complaint. Some processors are more lenient than others. We all know how PayPal rolls, and what they do. I'm hoping to read more positive results here as more sellers start using Adyen more.

eBay's main reason for switching to Managed Payment and transitioning away from PayPal has a lot to do with control over the payments flow, something that Amazon has long been doing. It's not just about saving money, but also having control and oversight over every aspect of the buyer experience.

I see this as positive simply because sellers only need to deal with eBay for everything, even when it comes to buyer problems, disputes, refunds, etc. Right now if PayPal wants to shut your eBay business down, they can. So many sellers had their PayPal's limited/suspended, and now they might have a second chance at reviving those old eBay's they couldn't use before, at least safely.

Re: Adyen how now asked for a bank statement
 

To be honest, I have liked it so far. I'm having some problems giving refunds though.. I'm stilling waiting for checks to come in so I haven't been able to do anything more, but I don't expect any problems since its a legit account.

Re: Adyen how now asked for a bank statement
 

Checks? Are you getting paid by check from Adyen?

Have you received any Adyen powered payments yet? If so, I assume they are via ACH into your linked bank account.

Do payments clear right away, or is there a hold period?

Re: Adyen how now asked for a bank statement
 

What's the problem with refunds?

Re: Adyen how now asked for a bank statement
 

another problem for Ebay selller is that if buyer loses a dispute on eBay,It can go to Paypal,if he loses on Paypal,he goes to his cc issuer.